HOT NEWS Indoor Harvest is NOW defunct.
The Company is not defunct, but it is currently delinquent in its filings. It has a period of time to cure this delinquency however and has yet to loose its OTCQB status. It's also not a "shell Company" as has previously been cited. The Company's SEC filings clearly show considerable R&D history and the development of both intellectual property and technology tested by multiple third parties. Many of which are major players in the cannabis space.
INQD failed to file an 8K with the SEC to inform investors about the corporate change after it was confirmed he left the company. This idiot posted it on LinkedIn. I guess the uneducated idiot thinks you can just quit (as the CFO, Boardmember and only Accountant) for a public company and run away with everybody's money without any consequences.
This is an incorrect statement. An 8K was filed regarding my resignation as an Officer in March. I also stepped down from the Board in August 2017 as part of the acquisition of Alamo CBD, which was also reported to the SEC.
As the founder, I led the development of the technology and the subsequent change management effort in the acquisition of Alamo CBD. The hope had been to use the technology in Texas under the Texas Compassionate Use Program by leveraging a Joint Venture with a Texas Biotech.
Like many founders, I handed over control and management once I reached the limits of my abilities. I'm still a shareholder and very much want to see the Company and its technology succeed.
I guess the uneducated idiot thinks you can just quit (as the CFO, Boardmember and only Accountant) for a public company and run away with everybody's money without any consequences.
Nobody has run away with anything, the Company developed and owns proven technology and intellectual property. It has several development agreements in place with reputable groups and is still a pending applicant to produce cannabis in Texas. Shareholders do in fact own something.
In my experience this means INQD embezzlers are HOPING that they will be delisted and they can walk away with all the money they stole from INQD investors. Since the SEC doesn't care about small time thieves I guess they will get probably away with it.
The Company has been attempting to gain shareholder approval in order to increase the Company's authorized capitalization and give management the tools it has requested so that it can move its plans forward.
An initial disclosure was made in November 2018 about these plans and guidance was given in January 2019. A subsequent vote was held in February 2019 to obtain approval to capitalize these plans.
While shareholders overwhelmingly voted in favor of the Boards proposals, not enough beneficial shareholders (retail) voted. Thus the vote failed to gain the 2/3 requirement under Texas law. A second vote has been scheduled for June 7th 2019.
I hope shareholders participate in larger numbers this time, vote for managements proposals and ultimately make the right choice by the June 7th deadline.
I felt at the very least I should respond to Truth87321's comments as they mischaracterize the situation. I will make no further comments.
